MIRA INFORM REPORT
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Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
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Name : |
CONTINENTAL FLOWERS PTY LTD |
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Registered Office : |
3 Hope
Place, Beaumont Hills, New South Wales, Zip/postal code 2155 |
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Country : |
Australia |
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Date of Incorporation : |
14.03.2001 |
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Com. Reg. No.: |
096202952 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Not
Available |
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No. of Employees : |
Not
Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
Status : |
Struck off |
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Payment
Behaviour : |
--- |
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Litigation : |
--- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Australia |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
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Source : CIA |
Verified Address
Subject name : CONTINENTAL FLOWERS PTY LTD
Business
address : 3 Hope Place
Town : Beaumont Hills
Province : New South Wales
Zip/postal
code : 2155
Country : Australia
Tel : N/A
Fax : N/A
Registered
address : 3 Hope Place
Town : Beaumont Hills
Province : New South Wales
Zip/postal
code : 2155
Country Australia
Comments : The Subject has been
de-registered on 05/08/2012. The provided address Suite
119, 9 Crofts Avenue, Hurstville, NSW 2220, Australia was the previous registered address of the Subject. The provided contact number +61 417 068954 is invalid. We found the contact number +61 2 88832907 unfortunately this number is also invalid.
Executive Summary
Date founded
or registered : 14/03/2001
Legal form : Australian
Proprietary Company
Chief
executive : Sanjay
Pendse
Issued &
paid up capital : AUD 30,000
Line of
business : The
Subject has been de-registered on 05/08/2012.
Staff employed
: Nil
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
ceased
Management experience : Management is inadequately experienced
Financial performance : Financial performance is
undetermined
Organization structure : Organizational structure is flawed
Detrimental : Serious detrimental found
Payment history : Payment punctuality is
undetermined
Registry Data
Registration
date : 14/03/2001
Legal form : Australian Proprietary Company
Registration
no Australian Company Number:
096202952
Registered
authority : Australian Securities and
Investments Commission
Fiscal/ Tax no
: Australian
Business Number: 66096202952
Registry
status : Struck Off
Previous name
: None reported.
Change of
legal form : None reported.
Comments : The Subject was de-registered
on 05-08-2012.
Key Management
Name : Sanjay Pendse
Designation : Managing Director
Appointments
Name : Sanjay Pendse
Designation : Director
Appointment
date : 17/06/02
Address : Suite 119, 9 Crofts Avenue
Hurstville, NSW 2220
Australia
Biography : Born on 12-06-1966 in Sangli,
India.
Cease date: 05-08-2012
Staff employed
: Nil
Composition
Authorized
Capital : AUD 30,000
No of shares :
3,000 Ordinary Shares
Share par
value : AUD 10
Issued capital
: AUD 30,000
Paid up capital : AUD
30,000
How listed : Full List
Composition
Shareholder
name : Mirza Kashany
Address : 3 Hope Place
Beaumont Hills, NSW 2155
Australia
No. of shares
: 1,500 Ordinary Shares
% of shares : 50%
Shareholder
name : Sanjay Pendse
Address : Suite 119, 9 Crofts Avenue
Hurstville, NSW 2220
Australia
No. of shares
: 1,500 Ordinary Shares
% of shares : 50%
Structure
Related
companies and corporate affiliations comments : None reported.
Mortgages : None reported.
Legal Fillings
Bankruptcy
fillings : None reported.
Court judgements
: None reported.
Tax liens : None reported.
Others : None reported
Description
Comments : The Subject has been
de-registered on 05/08/2012.
The Subject is classified as a small proprietary company by the
Australian
Securities & Investments Commission hence is not required to
disclose their
financial statement.
A proprietary company is defined as small for a financial
year if it satisfies at least two of the following:
- The
consolidated revenue for the financial year of the company and any entities it
controls is less than $25 million;
-The value of
the consolidated gross assets at the end of the financial year of the company
and any entities it controls is less than $12.5 million, and
-The company
and any entities it controls have fewer than 50 employees at the end of the financial year.
Main
activities : The
Subject has been de-registered on 05/08/2012.
Purchases
Local : None reported.
International
: None reported.
Sales
Local : None reported.
International
: None reported.
Property &
Assets
Premises : The Subject does not operate
from any facilities as the Subject has been de-registered
on 05/08/2012.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4% industry: 25.6% services: 70.4%
Inflation : 2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate 2009: 5.6 %
2010: 5.2 %
2011:5.1 %
Public debt
(General Government gross
debt as a % GDP) 2009: 16.9%
2010: 20.4%
2011: 22.9 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2009: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows 2008: US$33,604 million
2009: US$ 16,160 million
2010: US$26,431 million
Best countries for doing business : 10 out
of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet users as % of total population :
76%
Purchase Term
Local : None
International
: None
Sales Term
Local : None
International
: None
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined
but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Official and local business sources
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
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UK Pound |
1 |
Rs.86.44 |
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Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.